Retirement plan

LYNCHBURG COMMUNITY ACTION GROUP, INC. 401(K) PROFIT SHARING PLAN

Name: LYNCHBURG COMMUNITY ACTION GROUP, INC. - LYNCHBURG COMMUNITY ACTION GROUP, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: LYNCHBURG COMMUNITY ACTION GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LYNCHBURG COMMUNITY ACTION GROUP, INC. 401(K) PROFIT SHARING PLAN, LYNCHBURG COMMUNITY ACTION GROUP, INC.

LYNCHBURG COMMUNITY ACTION GROUP, INC.EIN 54-0797340Plan #001PY 2022

1010 MAIN STREET, FL 2 - LYNCHBURG, VA 245041712434-846-3174lyncag.orgLinkedIn11-50 employeesreal estate

Prospect flagsLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.9M

-17.3% from 2021

Total participants

120

+1.7% from 2021

Average account balance

$19,913

-15.5% from 2021

Annual return

-14.94%

-28.70 pp from 2021

Benchmarks

See 1,742 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,742 peers

Snapshot2022

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.97M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$30K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

103.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$71K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.88%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$2015

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP3 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Recordkeeping and information managem...	$1,089

Plan features & details

Pension benefit codes2F2G2S2T3D

Plan features

2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$4K

$43 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.240%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: N. WES PUGHSLEY, JR., CPA
Auditor EIN: 541774563
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$19,913

$51,223-61.1%

$82,763-75.9%

$66,949-70.3%

Participation rate

73.8%

67.9%+5.9pp

72.6%+1.2pp

69.8%+4.0pp

Annual return

-14.94%

-9.85%-5.1pp

702.45%-717.4pp

1.57%-16.5pp

Employer contribution / active EE

$341

$2,611-86.9%

$3,008-88.7%

$2,545-86.6%

Participant deferral / active EE

$354

$3,460-89.8%

$4,395-92.0%

$4,239-91.7%

Admin fee / account holder

$48

$415-88.5%

$5,325-99.1%

$594-92.0%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP3 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Recordkeeping and information managem...

$1,089

LYNCHBURG COMMUNITY ACTION GROUP, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LYNCHBURG COMMUNITY ACTION GROUP, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion